Dutch-US biotech raises $61M to test ex-Mitsubishi Tanabe drug for schizophrenia
Multiple biotech companies have made noise in schizophrenia R&D this year, with a landmark drug approval request and several large financings, and on Tuesday morning another startup entered the spotlight.
Kynexis took the wraps off a €57 million (about $61 million) Series A to tackle the cognitive impairments associated with the puzzling brain disorder.
The Naarden, Netherlands-based startup plans to start testing an oral small molecule licensed from Mitsubishi Tanabe early next year, Kynexis CEO Kees Been told Endpoints News. Forbion and Ysios Capital created Kynexis, which then in-licensed the asset, a KAT-II inhibitor with the codename KYN-5356, from Mitsubishi Tanabe with a “nominal” upfront, Been said.
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